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's bring in barbara starr at the pentagon for more on this potential chuck hagel nomination. we don't know if he'll be nominated yet. barbara, what are the attacks against hagel? >> classic washington trial balloon. the nomination isn't out, nomination hasn't been made, but the pins are sticking in that trial balloon. first, senator hagel apologized for comments he made back around 1997, 1998 when there was a man who was openly gay about to become an ambassador, hagel opposed all of that, made some comments about gay people. now he says all these years later he regrets it, it is not what he believes. and by all accounts members of those who represent pro gay rights movements in washington have accepted senator hagel's apology on that. item number two, a lot of questions about whether hagel is tough enough on iran. did he cast some votes in the senate that did not support sanctions against iran? number three, israel. this may be the one that gets the most traction and already has, in fact. a lot of pro israeli groups are saying that senator hagel simply isn't supportive enough of israel. be
they go to washington, it is not an act of philanthropic on the pentagon -- and at the plant for be on the pentagon fell apart -- it is not a philanthropic act on the pentagon's part. the united states federal government -- unless europe is dollar rise, unless they do not have dollars to spend purchasing the net exports of those who have surpluses, then they will stop having surplus. this is the surplus recycling mechanism. thus, we have the 20 years of the golden age. a period of immense stability very low inflation. universal growth. we had other problems. the lease from the macroeconomic point of view, it was a golden age. why is that? because the global surplus of recycling mechanism was sustained. why? because the united states stopped having a surplus by the end of the 1960's. how can you recycle surplus if you cannot have it. well, paul volcker -- been named may ring a bell. in 1971, paul volcker was an unknown working for another american. henry kissinger, who you may have heard of. before he became secretary of state. volcker's paper, which are when i read a few year
increases for everybody. the automatic spending cuts to the pentagon have huge ramifications. and most economists would say if this happens, there's major risk that the economy goes back into recession. >> jon karl, not the news we wanted to hear. thank you. >>> now to paula faris with the top stories. good morning. >> merry christmas eve to both of you. good luck with the shopping. >> we need it. >>> we begin in afghanistan. for the first time ever, a female officer is the one who opened fire. an afghan policewoman shot and killed a u.s. military adviser just outside the police head quarters in kabul. >>> vietnamese fishermen rescued a florida man on a disabled yacht. he and three others were towing the yacht from the philippines when the tow rope broke. >>> a senator from idaho is apologizing this morning after he was arrested over the weekend for driving drunk. mike crapo has said previously he does not drink. >>> there's no evidence this morning we don't feel good about the economy. a new abc news/"washington post" poll finds that three-quarters of americans say we're in a recessio
Search Results 0 to 2 of about 3